After the launch of Ripple`s new product xRapid, many companies are willing to use it for daily transactions. There is the chance that the number of companies favoring xRapid will increase further. This new creation of Ripple will help in providing easy financial settlement all over the world.
The payments in XRP against transaction will become more easy, effective, liquid and speedy. To make the process easy to understand co-owner of Ripple Chris Larsen discussed in the example of the transaction between the United States and Mexico. He described the process in an interview.
Moreover, seven companies are all set to use xRapid for their daily transactions. Among them are the three popular exchanges Bittrex, Bitso and Coins.ph who will use xRapid for speedy payments against their transactions. The fees will be very low for these payments.
Mercury FX that is situated in London is also on the list of using xRapid. They have recently run the sample test and found it very speedy. SBI exchange is also planning to provide benefits to other firms of the world through xRapid. A United States-based firm Cuallix`s new plan is to move towards xRapid for financial payments against different transactions.
Furthermore, Zip remits a company in Canada that deals in remittances are also shifting to xRapid. Not to forget, many companies are running a sample test to decide to move towards xRapid. Money Gram is one of them. However, Western Union is not happy with the results of the pilot test. It has issues with its speed. Ripple will officially launch xRapid in the coming month.